Indiana’s unemployment rate stands at 3.2 percent for May and remains lower than the national rate of 4.3 percent.
Since the low point of employment in July 2009, Indiana’s employment growth rate has surpassed the national rate, leaving Indiana with new highs for labor participation last month. (Graphic provided)
The unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people as a percentage of the labor force. Indiana’s labor force decreased by 2,062 over the previous month with an 8,946 increase in employment and an 11,008 decrease in unemployment. Indiana’s total labor force stands at more than 3.33 million, and the state’s 64.5 percent labor force participation rate remains above the national rate of 62.7 percent.
“Indiana continues to see its unemployment rate remain at levels not seen for nearly two decades. The state’s strong economy and the growing workforce needs of businesses are the main drivers of this,” said Steven J. Braun, Commissioner of the Indiana Department of Workforce Development (DWD). “Those who are unemployed or feel they are underemployed are urged to stay positive and take advantage of the resources and job assistance programs offered by their local WorkOne Career Centers.”
Braun added that Indiana continues to see a decline in unemployment insurance claims, which he believes is directly related to a constricting labor market. Meeting employer demand of the more than one million jobs that are projected to be filled over the next 10 years presents both an opportunity and a challenge in developing the state’s workforce, he noted.
Employment by Sector
Indiana’s unemployment rate has been lower than both the national average and the surrounding states’ rates. (Graphic provided)
Private sector employment has grown by more than 36,100 over the year and has increased by 2,500 over the previous month, primarily due to gains in the Private Educational & Health Services (3,100) and the Construction (2,100) sectors. Gains were partially offset by losses in the Transportation, Trade and Utilities (-4,100) and the Manufacturing (-2,500) sectors. Total private employment stands at 2,680,800 and is 3,900 above the November 2016 peak.